In a pivotal leadership transition at a major Catalan paper company, Jordi Mercader Miro announced the transfer of the presidency of Michael and Costas to his son, Jordi Mercader Cheap, who has served as vice president. The elder Mercader, at the helm for more than three decades, is set to join the board of directors following the General Assembly scheduled for June 22.
During a media briefing, he clarified that the current president would remain on the books as a special administrator, but would hold no executive responsibilities. At the shareholder gathering, independent director appointments for Felipe González and former Deputy Prime Minister Narcís Serra, along with Teresa Bust of the Castle, were to be confirmed.
The incoming president outlined four strategic pillars: quality, innovation, sustainability, and financial strength, emphasizing that these choices reflect a commitment to an autonomous, resilient company.
Over recent years the firm has progressively reduced its reliance on cigarette paper, which now accounts for about 60% of total sales. The strongest growth is seen in its floor-covering and industrial paper lines, where products such as paper straws and tea bags stand out, comprising roughly 30% of activity. The remaining 10% comes from other segments. Nevertheless, cigarette paper remains a dominant contributor, representing around 75% of overall revenue.
Election Paper
Specializing in high value-added paper, the group aims to secure at least 1,200 of the 3,000 tons of paper needed for the elections slated for July 23. A notable feature is the introduction of sepia-toned ballots for various Senate groups, a distinctive offering from the company in the run-up to the vote.
As a board-controlled enterprise holding just over half of the capital, the company closed 2022 with sales of 337.2 million and a consolidated net profit of 31.6 million. The first quarter of the current year reported net results of 11.05 million, up 40.5 percent from the same period a year earlier. (Source: Company disclosures, June update)